The logo of insurance company Swiss Re is seen in front of its headquarters in Zurich, Switzerland February 12, 2019. REUTERS/Arnd WIegmann/File Photo
NEW YORK, July 23 (Reuters) – The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG’s (SRENH.S) chief Americas economist said on Friday.
Unlike the prior crisis, the pandemic did not weaken insurers’ overall capitalization or financial strength, which allows companies to write new coverage and increase revenue, economist Thomas
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The Central Bank is to propose the banning of higher pricing of insurance premiums for loyal customers from next year after a seismic review of how motor and home insurance premiums are priced.
The financial regulator said that its review of 11 insurance providers and 11 million policy records has shown “that some of the practices identified could result in unfair outcomes for some consumers in the private car and home insurance markets”.
It said that as a result of those practices the cost of premiums paid by some policyholders “deviate significantly” from what those premiums could be expected to
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